Complete the Select tab with the customer's information.It is delivered via email or stamped mail. This document includes the account information, filing period involved in the credit, and a summary of action. Step B: Enter a Customer Invoice (this will deduct the amount from the cash account and document the refund on the customers account) A credit memo, also referred to as a Notice of Overpayment, is a document the Department issues to a taxpayer when the tax liability is less than the payments received. If you are also using the Sales Orders module, an Expense account is required. On the Accounts tab, enter or select a Sales and a Returns & Allowances account.Enter an Abbreviation that can easily identify the Customer Refunds sales item.Step A: Create a Customer Refunds Sales Item (One Time Setup) If a refund is needed for a negative invoice for a customer, you have two options: Option 1 - Cash Refund Option 2 - Refund with Handwritten or Computer Generated Check Refund Step C - Apply the Negative Invoice to the Original (Positive) Invoice Step B- Enter a Negative Customer Invoice Step A - Create a Customer Refunds Sales Item (One Time Setup) This document provides step-by-step instructions on how to refund a negative invoice. If a refund is needed for a customers return that was saved as a negative invoice instead of a customer deposit, please choose one of the steps below. To do this, go to Transactions > Customers > Accept Customer Payments (Administrator), and select the appropriate customer.CenterPoint ® Accounting for Agriculture - Refund a Negative Invoice (Credit Memo) If you issue a credit memo after a customer has paid an invoice, this memo can be applied to any of the customer's open or future invoices. For more information, see Entering Communication Information on a Transaction. On the Communication subtab, enter communication information for this transaction. For more information, see Associating Sales Teams with Customers and Transactions. On the Sales Team subtab, if you use the Team Selling feature, select the Sales Team for this transaction. For more information, see Entering Relationships on a Transaction. On the Relationships subtab, enter a contact or partner details for this transaction. For more information, see Entering Accounting information about a Sales Transaction. The Accounting subtab only shows if you are using the Multiple Currencies or Revenue Recognition features, if you have not enabled the Per-Line Taxes preference at Setup > Accounting > Taxes > Set Up Taxes (Administrator), or if you have added fields to this subtab. For more information, see Entering Shipping Information about a Sales Transaction. On the Shipping subtab, enter the shipping details for this transaction. For more information, see Adding Billing Information to a Transaction. On the Billing subtab, the default billing address for the selected customer is displayed in the Bill To field. Next, click List to select the serial number sold to this customer.Įnter the serial number and the item number will autofill the Item field.įor more information, see Adding Items on a Sales Transaction. If the item being returned is a serialized item, you can:Įnter the customer name, then enter the item number in the item field. On the Items subtab, enter information about each item credited, and click Add after each. For information about sharing customer records with multiple subsidiaries, see Assigning Subsidiaries to a Customer. If you use NetSuite OneWorld and the selected customer is shared with multiple subsidiaries, you can choose any subsidiary assigned to the selected customer. Under Classification, select a department, class, and location you want this order associated with. For example, selecting this box on a sales order excludes the sales order and the resulting invoice from all commission calculations for all sales people. The sales effective date determines which commission plan and historical sales team this transaction applies to.Ĭheck Exclude Commissions to exclude this transaction and its subordinate transactions from inclusion in all commission calculations. You can change the sales effective date for this transaction. If you like, enter a memo that will appear on the 2-line Accounts Receivable register. If you use accounting periods, select the posting period for this credit.Įnter the customer's original purchase order number. In the Custom Form field, select the credit memo form you want to use. Go to Transactions > Customers > Issue Credit Memos (Administrator).
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